Tds on salary
On what conditions is TDS deductible on Salary?
Replies (5)
If net inome crosses the threshold limit.
In case of Individual, if total income AFTER giving effect to the provisions of sections 80C to 80U exceeds the exemption limit specified.
Poornima can you please provide me the any source/section/case law of your answer.
I have not read anything like this before.
Thanks in advance
@ roopali : in case of employee, after giving effect to various investment declarations provided by him like insurance premium, medical premium, lta,medical reimbursement etc, in case of salaried individual get the information regarding various tax savings made by him out her, arrive at tax liability , adjust for yds already deducted using form 16 and pay the remaining due or claim the refund....
Reads section 192 of IT act 1961& relevant finance act for exemption limit or read circular on TDS on salary issued by CBDT every year.
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